Griffin Real Estate and Madison International Realty have formed a joint venture for their first investments together in Germany.
With Griffin’s development partner, Panattoni, a European logistic developer, the firms will develop two build-to-suit properties, with a footprint area of more than 7,000 square meters (75,350 square feet) and 9,100 square meters (97,950 square feet), respectively, that have been leased to Amazon on a 15-year lease with combined investment volume over €80 million ($95 million).
The two transactions are Griffin Real Estate’s first major acquisitions in Europe outside of Poland, and a second joint project with Madison International Realty. The two companies have been working together since January 2020, when they began their strategic partnership in the logistics sector in Poland.
One property will be constructed in North Rhine Westphalia, 70 kilometers (43 miles) east of Cologne, and with direct link to the A4 and A45 highw
